Truist Financial Corp Buys New Shares in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Truist Financial Corp purchased a new stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 190,684 shares of the company's stock, valued at approximately $5,608,000. Truist Financial Corp owned 0.11% of Zurn Elkay Water Solutions at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC grew its stake in Zurn Elkay Water Solutions by 85.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,294 shares of the company's stock valued at $93,000 after acquiring an additional 1,517 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Zurn Elkay Water Solutions in the fourth quarter valued at approximately $125,000. Nisa Investment Advisors LLC increased its stake in shares of Zurn Elkay Water Solutions by 16.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the company's stock worth $203,000 after purchasing an additional 1,000 shares in the last quarter. Teza Capital Management LLC acquired a new position in shares of Zurn Elkay Water Solutions during the 3rd quarter worth approximately $207,000. Finally, Wealth Alliance purchased a new stake in Zurn Elkay Water Solutions in the 4th quarter valued at approximately $228,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Zurn Elkay Water Solutions Trading Up 0.0 %

Shares of ZWS traded up $0.01 during mid-day trading on Friday, hitting $31.64. The company had a trading volume of 615,725 shares, compared to its average volume of 991,257. Zurn Elkay Water Solutions Co. has a 1-year low of $20.70 and a 1-year high of $34.58. The business's 50-day simple moving average is $31.98 and its 200-day simple moving average is $30.24. The stock has a market cap of $5.46 billion, a PE ratio of 44.56, a P/E/G ratio of 1.65 and a beta of 1.21. The company has a quick ratio of 1.95, a current ratio of 3.31 and a debt-to-equity ratio of 0.31.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. Zurn Elkay Water Solutions's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.18 EPS. Sell-side analysts forecast that Zurn Elkay Water Solutions Co. will post 1.18 earnings per share for the current year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 20th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, May 17th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 45.07%.

Insiders Place Their Bets

In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the business's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $32.18, for a total transaction of $1,614,534.96. Following the completion of the sale, the insider now owns 24,998,760 shares in the company, valued at approximately $804,460,096.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ice Mountain Llc sold 50,172 shares of the firm's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $32.18, for a total value of $1,614,534.96. Following the transaction, the insider now owns 24,998,760 shares of the company's stock, valued at approximately $804,460,096.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Troutman sold 897 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.70, for a total transaction of $27,537.90. Following the sale, the insider now directly owns 43,026 shares of the company's stock, valued at $1,320,898.20. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock worth $23,964,936 over the last three months. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZWS has been the subject of several recent research reports. Mizuho downgraded Zurn Elkay Water Solutions from a "buy" rating to a "neutral" rating and set a $34.00 price target for the company. in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Zurn Elkay Water Solutions from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, Oppenheimer lifted their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Zurn Elkay Water Solutions presently has a consensus rating of "Hold" and an average price target of $33.50.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.